Bradford is in an excellent location in West Yorkshire. Situated at the foot of the Pennines, it is just 16 miles from Leeds and is part of the UK’s fourth largest urban area (the West Yorkshire Urban Area). This historical city has a population of over 530,000, enjoys low property prices and beautiful scenery. Bradford is a great option for property investment .
The city has truly bounced back from the effects of de-industrialisation and now has one of the strongest economies in the region. Bradford has a growing appeal to financial companies who have headquarters in the city, such as Provident Financial, Yorkshire Building Society, and Santander UK. Other well-known companies also have head offices in Bradford, including Morrisons, Hallmark Cards and Yorkshire Water.
Now valued at £9.5billion is Bradford’s economy. This is the eighth largest in England. The economy contributes 15.4% to the total growth of the Leeds City Region, and has itself grown by 25% over the previous decade.
Initiatives are underway to further increase Bradford’s economy by £4billion. 20,000 more people are set to join the local workforce and 48,000 residents will benefit from improved skills.
Invested into Bradford’s regeneration over recent years has been over £700million. This helped create the new Westfield shopping and leisure complex called The Broadway, which created over 2,000 new jobs.
Now, a further £75million is being invested into Bradford. This investment will further develop the city and bring it in line with the Northern Powerhouse project. The regeneration scheme has been compared to the development of London’s tech and business district, Shoreditch. It will restore much of Bradford’s heritage areas, including its markets and St George’s Hall. Also being built as part of this investment are Grade A office space and around 1,000 new homes.
The two major rail projects – HS2 and the Northern Powerhouse Rail – will connect Bradford with other major UK cities while dramatically reducing journey times. Thanks to these projects, Bradford’s economy will receive a boost of a huge £15billion by 2060 and local house prices will also grow.
Excellent Transport Links
As well as these rail links, Bradford also enjoys an excellent road network. It is easy to reach the M62 and M1 from Bradford, so drivers can get to Hull, Leeds, Liverpool, Manchester, a number of other UK destinations.
Bradford boasts the third best yields in the UK at its Little Germany postcode. This area is one of the UK’s top hotspots for buy-to-let investments and offers yields of over 9%.
Property prices in Bradford are currently some of the most affordable in the country. With the city set to experience even more sustained growth, now is the perfect time to invest in Bradford.